Sinopec Shanghai Petrochemical Co. Ltd. provided earnings guidance for the first quarter ended March 31, 2015. The group expected to report a profit for the first quarter ended 31 March 2015, which stands in contrast to the loss report for the same period of the last year. Under the China Accounting Standards for Business Enterprises, net profit attributable to equity shareholders of the company is expected to be between RMB 40 million and RMB 70 million. In the first quarter of 2015, international crude oil prices languished at low levels and were
volatile, leading to a decrease in the Group's costs of crude oil processing and an increase in gross profit margin of its products.